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Understanding Financial Statements |
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Definitions of Balance Sheet Items Claims on Assets
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Claims on assets arise from debt and from ownership claims on the company. As the number of liabilities and ownership items increase, the complexity of the balance sheet increases.
Click on an item name for a
description
Balance Sheet Bizzer, Inc. |
January 1,1999 |
LIABILITIES AND OWNERS' EQUITY
Liabilities

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Current Liabilities
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Long-Term Debt 1 Yr.
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$18,000
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Notes Payable
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$39,000
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Accounts Payable
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$15,000
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Taxes Payable
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$13,000
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Accrued Expenses
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$43,000
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Other Current Liabilities

Total Current Liabilities
Long-Term Liabilities
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$11,000

$139,000
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Notes Payable
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$18,000
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Bonds Payable

Total Long-Term Liabilities
Other Liabilities
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$99,000

$117,000
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Pension Obligations
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$98,900
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Deferred Taxes
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$72,000
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Minority Interest

Total Other Liabilities
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$12,400

$183,300
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Total Liabilities
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$439,300
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Owners Equity

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Copyright © 1998 Bizzer Professional Training |
 
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